Cost of Living in Hennepin County, Minnesota

$1,439/mo

Median Monthly Rent

$376,500

Median Home Value

57% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,439/mo

57% above state average

Median Home Value

$376,500

34% above national

Rent-to-Income Ratio

28.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Hennepin County Compares

Median monthly rent comparison

Hennepin County$1,439/mo

Minnesota Average$915/mo

National Median$1,163/mo

Detailed Housing Stats

$1,439/mo

Median Gross Rent

$376,500

Median Home Value

$1,788/mo

Monthly Owner Cost

28.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Hennepin County, Minnesota

Hennepin housing strains household budgets

Hennepin County's rent-to-income ratio of 17.9% significantly exceeds both the national standard and Minnesota's state average of 14.5%, meaning renters sacrifice nearly one-fifth of income to housing. The county's median rent of $1,439 reflects premium urban pricing in Minnesota's largest metro area.

Priciest housing in Minnesota

Hennepin County ranks among Minnesota's least affordable counties, with a 17.9% rent-to-income ratio driven by its metropolitan density and high demand. Median home values of $376,500—nearly double many rural counties—signal the cost premium of living near Minneapolis.

Twin Cities premium towers above rural peers

Hennepin's $1,439 rent towers over rural neighbors like Grant County at $779 and Jackson County at $736, though higher incomes ($96,339) partially offset the gap. The metropolitan advantage in wages doesn't fully compensate for the housing cost surge.

Housing claims nearly one-fifth of income

Renters spend $1,439 monthly while homeowners commit $1,788, with median homes valued at $376,500. Together, housing consumes 17.9% of the $96,339 median household income—above the national comfort threshold and straining many households.

Urban convenience comes with high costs

Hennepin County offers unmatched job diversity and urban amenities, but housing costs claim more than 17% of income—significantly above affordability benchmarks. If you're relocating to the Twin Cities, budget carefully or consider surrounding counties for lower costs with metro access.

Affordability Calculator

See how your income compares to housing costs in Hennepin County

Your Annual Household Income

Rent Burden

17.9%

of gross income

Max Housing (28% Rule)

$2,248

per month

Owner Cost Burden

22.3%

of gross income

The median home in Hennepin County may be a stretch

Median home value is $376,500. Estimated monthly cost: $3,006 vs. your max of $2,248.

Rent Affordability Guide

Your rent-to-income ratio17.9%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Hennepin County, Minnesota?

Hennepin County, Minnesota has a median monthly rent of $1,439/mo and a median home value of $376,500. The affordability rating is Unaffordable, with rent making up approximately 28.0% of median household income.

What is the median rent in Hennepin County?

The median gross rent in Hennepin County is $1,439/mo. This is 57% above state average for Minnesota.

Is Hennepin County affordable?

Hennepin County is rated Unaffordable based on rent-to-income ratio of 28.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Hennepin County's rent compare to the state average?

Hennepin County's median rent of $1,439/mo is 57% above state average of $915/mo for Minnesota.

What is the median home value in Hennepin County?

The median home value in Hennepin County, Minnesota is $376,500. This is 34% above the national median home value of $281,900.